{"id":416187,"date":"2022-03-15T04:26:45","date_gmt":"2022-03-15T01:26:45","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/motions-denied-for-both-sec-and-ripple-as-battle-continues\/"},"modified":"2022-03-15T04:26:45","modified_gmt":"2022-03-15T01:26:45","slug":"motions-denied-for-both-sec-and-ripple-as-battle-continues","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/motions-denied-for-both-sec-and-ripple-as-battle-continues\/","title":{"rendered":"# Motions denied for both SEC and Ripple as battle continues"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3ccb95b8ff2\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3ccb95b8ff2\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/motions-denied-for-both-sec-and-ripple-as-battle-continues\/#%E2%80%9D_Motions_denied_for_both_SEC_and_Ripple_as_battle_continues_%E2%80%9C\" >&#8221; Motions denied for both SEC and Ripple as battle continues &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_Motions_denied_for_both_SEC_and_Ripple_as_battle_continues_%E2%80%9C\"><\/span>&#8221; Motions denied for both SEC and Ripple as battle continues &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvYTMwMmFmNjctZDVjYS00M2FhLWI1ZjQtOTIyZWU0MGJlYWU2LmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-128018ef>Southern New York District Court Judge Analisa Torres issued two rulings Friday on motions filed in the Security and Exchange Commission (SEC) lawsuit against Ripple Labs.<\/p>\n<p>Ripple argued that it was not given fair notice by the agency that it would consider the token a security, thus denying the company due process. Judge Torres <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.crypto-law.us\/wp-content\/uploads\/2022\/03\/03112022-Order-Denying-Motion-to-Strike-Fair-Notice-Defense.pdf\">denied<\/a> the SEC motion, filed in April, to dismiss this defense, and by doing so affirmed that the defense is viable in the suit \u2014 in other words, that the defense, if accepted, could be used to win the case.<\/p>\n<p>The judge also <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.crypto-law.us\/wp-content\/uploads\/2022\/03\/Denial-of-individual-defendants-motion-to-dismiss.pdf\">denied<\/a> a motion filed by Ripple CEO Brad Garlington and executive chairman Chris Larsen in April to dismiss the case against them for aiding and abetting the alleged unregistered securities sales. By filing the motion, the defendants claimed that, even if the allegations in the suit were true, they would not comprise a winnable case. <\/p>\n<p>While Garlington <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/search?q=brad%20garlinghouse&amp;src=typed_query\">hailed<\/a> the rejection of the SEC motion as a \u201chuge win\u201d on Saturday, the case is still in the pleadings stage, so there are likely to be many more legal maneuvers to come. Since the decisions Friday, Ripple has moved to strike a supplemental report rebutting an expert report on the market performance of XRP.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">If you weren\u2019t paying attention then, you should be now. Huge win for Ripple today! <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/t.co\/dMeUQuIPHM\">https:\/\/t.co\/dMeUQuIPHM<\/a><\/p>\n<p>\u2014 Brad Garlinghouse (@bgarlinghouse) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/bgarlinghouse\/status\/1502373335459524610?ref_src=twsrc%5Etfw\">March 11, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><br \/>\nThe suit alleged Ripple sold its XRP token as an investment product without SEC registration from 2013 to December 2020, when the agency filed suit. Ripple has argued that XRP is \u201ca digital asset for real-time global payments,\u201d and not subject to SEC jurisdiction<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>SEC v. Ripple: Here\u2019s how two 2012 memos can turn the tide in the milestone crypto case<\/em><\/strong><\/p>\n<p>The case is noteworthy because it is, so far, a rare instance of a case brought by the SEC that goes to trial, rather than being settled out of court. The outcome of the case, if no settlement is reached, could set a precedent that would affect cases against crypto companies for the foreseeable future, and could\u00a0 encourage more companies to challenge the regulator in court.\n<\/p><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/motions-denied-for-both-sec-and-ripple-as-battle-continues\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; Motions denied for both SEC and Ripple as battle continues &#8220; Southern New York District Court Judge Analisa Torres issued two rulings Friday on motions filed in the Security and Exchange Commission (SEC) lawsuit against Ripple Labs. Ripple argued that it was not given fair notice by the agency that it would consider the&#8230;<\/p>\n","protected":false},"author":1,"featured_media":416188,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDMvYTMwMmFmNjctZDVjYS00M2FhLWI1ZjQtOTIyZWU0MGJlYWU2LmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[75034,74898,75557,71433,70934],"class_list":["post-416187","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-ripple","tag-sec","tag-xrp","tag-court","tag-regulation"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/416187","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=416187"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/416187\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/416188"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=416187"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=416187"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=416187"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}